Startale CEO: Japan plans to classify cryptocurrencies as new assets rather than securities regulation

ChainCatcher news, Startale's CEO Sota Watanabe revealed on X: The ruling party in Japan has proposed establishing a new cryptocurrency regulatory framework under the Financial Instruments and Exchange Act. If this proposal is passed this year, cryptocurrencies may not be regulated as securities but rather be considered a new asset class, potentially leading to the launch of crypto ETFs and a reduction in the tax rate from a maximum of 55% to 20%.

The government has been engaging in dialogue with Japanese industry leaders, and this move is seen as a positive outcome of collaboration between regulators and the industry, which is expected to attract more Japanese investors into the on-chain market.